Harbor Capital Advisors Inc. Decreases Stake in UFP Industries, Inc. $UFPI

Harbor Capital Advisors Inc. lessened its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 69.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,277 shares of the construction company’s stock after selling 9,748 shares during the period. Harbor Capital Advisors Inc.’s holdings in UFP Industries were worth $400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Allianz Asset Management GmbH raised its stake in UFP Industries by 10.2% in the second quarter. Allianz Asset Management GmbH now owns 249,261 shares of the construction company’s stock valued at $24,767,000 after buying an additional 23,152 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of UFP Industries by 4.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 166,340 shares of the construction company’s stock valued at $16,528,000 after acquiring an additional 7,063 shares during the last quarter. Nordea Investment Management AB raised its position in shares of UFP Industries by 0.7% during the 2nd quarter. Nordea Investment Management AB now owns 111,584 shares of the construction company’s stock worth $11,094,000 after acquiring an additional 759 shares in the last quarter. World Investment Advisors purchased a new stake in UFP Industries during the second quarter worth approximately $394,000. Finally, Caxton Associates LLP acquired a new position in UFP Industries in the second quarter valued at approximately $1,099,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on UFPI. Stifel Nicolaus set a $98.00 price objective on shares of UFP Industries in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research note on Thursday, October 30th. DA Davidson upgraded shares of UFP Industries from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $112.00 in a research note on Friday, October 31st. Finally, Zacks Research lowered UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 18th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, UFP Industries has an average rating of “Hold” and an average price target of $114.25.

UFP Industries Stock Up 0.9%

UFPI stock opened at $92.83 on Monday. The company has a fifty day moving average price of $91.67 and a 200 day moving average price of $96.54. UFP Industries, Inc. has a 12 month low of $87.11 and a 12 month high of $120.00. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 17.16 and a beta of 1.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 3.23.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Wednesday, October 29th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.08). UFP Industries had a return on equity of 10.18% and a net margin of 5.00%.The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the business posted $1.64 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Sell-side analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, December 1st. UFP Industries’s payout ratio is 25.88%.

Insider Activity at UFP Industries

In other UFP Industries news, Director Michael G. Wooldridge sold 1,192 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the completion of the sale, the director directly owned 14,697 shares of the company’s stock, valued at $1,373,140.71. This represents a 7.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Matthew J. Missad sold 11,000 shares of UFP Industries stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $92.26, for a total value of $1,014,860.00. Following the completion of the transaction, the chairman owned 310,533 shares in the company, valued at $28,649,774.58. This trade represents a 3.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.56% of the stock is owned by corporate insiders.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.